05 Aug 2023

Tesla, the American electric vehicle giant, makes significant strides in India, securing a 5,850-square-foot office space in Pune's Viman Nagar. Tesla India Motor & Energy's strategic move aligns with its ambition to establish a manufacturing base in the country. The lease spans five years, with an option to extend for ten years. Tesla is keen on introducing its electric cars to the Indian market and has engaged in discussions with the government. India considers allowing Tesla's foreign vendors to manufacture critical components within its borders. This dynamic development marks a transformative shift in India's automotive landscape.Read more

04 Aug 2023

ARISUN aims to raise Rs 350 crore through an Alternative Investment Fund (AIF) to expand its allied industries business in India. The AIF will attract institutional and high-net-worth investors, offering a flexible funding option. The capital will be used for business expansion, research, and innovation to strengthen the company's market presence. ARISUN's strategic move comes amidst the steady growth in the Indian allied industries sector, and its success will depend on transparent communication and effective fund utilization.Read more

04 Aug 2023

Experion Capital, a Singapore-based NBFC with a focus on real estate, invests Rs 200 crore in Vatika Group's Sovereign Park project in Gurugram. This luxury residential masterpiece spans 1 million square feet and enjoys a strategic location along the Dwarka Expressway. The move signifies Experion Capital's confidence in India's real estate potential and reflects a growing international interest in the market. With expertise from Singapore's Experion Holdings, Experion Capital aims to redefine luxury living and contribute significantly to India's real estate landscape.Read more

04 Aug 2023

SCB takes action against property tax defaulters by sending tax demand notices with 1 percent interest for late payments. Initially, a month's grace was given, but poor response prompted an extension until July 15. Out of 38,000 assesses, 15,000 have paid their taxes. SCB invokes the Cantonments Act, imposing penalties on defaulters. Section 102 (1) mandates 1 percent interest per month on outstanding dues after 30 days of notice. The tax wing serves notices with penalties, allowing defaulters until September 30 to pay via e-Chhavani or cash counters. Further actions may follow if defaulters disregard the notices. SCB remains resolute in upholding tax discipline.Read more

04 Aug 2023

The GST-Authority for Advance Rulings (AAR) has clarified that hostel rent paid by inhabitants does not qualify for exemption from goods and services tax (GST) as it is not considered a 'residential dwelling.' The ruling pointed out that hostel accommodation with a tariff below Rs 1,000 per day was exempt from GST only until July 17, 2022. Hence, hostel rent will now attract a GST rate of 12%.Read more

03 Aug 2023

Indiabulls Housing Finance's founder, Sameer Gehlaut, has dramatically reduced his stake to just 2%, down from 21% in December 2021. This move aligns with the company's transformation towards institutionalization, with foreign institutional investors set to hold nearly 60% by the fiscal year's end. In addition to the stake reduction, Indiabulls plans to adopt a new name later this year. Gehlaut's complete exit is planned for September, paving the way for majority ownership by global funds such as Blackstone, ADIA, Vanguard, PIMCO, and BlackRock.Read more

03 Aug 2023

Brookfield India Real Estate Trust has successfully raised Rs 1,500 crore through a Qualified Institutional Placement (QIP). The funds will be utilized to finance ongoing and upcoming real estate projects, expanding the company's presence in the dynamic Indian real estate market. The QIP's success reflects investors' confidence in the trust's financial health and potential for returns. As the real estate sector continues to grow and the economy shows signs of revival, the trust is well-positioned to leverage this positive momentum and create value for its stakeholders.Read more

02 Aug 2023

Goldman Sachs, a global investment firm, has shortlisted prominent players like Brookfield Asset Management, Alta Capital, and Keppel Corp as potential suitors for its stake in India's largest student accommodation platform, Good Host Spaces. Discussions are progressing, with the transaction valuing the company at $350 million. The appeal of India's real estate landscape for international investors is evident, and the student accommodation sector presents lucrative opportunities. Good Host Spaces collaborates with universities to provide tailored housing services, and with the demand for student accommodation on the rise, the sector is poised for substantial expansion in India.Read more

02 Aug 2023

Rajasthan's real estate landscape undergoes a transformative shift as the RERA increases registration fees for plotted and commercial schemes. The authority has introduced a standard fee of Rs 10 per square metre, fostering transparency and accountability. This change extends to government agencies as well, encouraging compliance among developers. The move aims to address rising complaints within RERA's jurisdiction and tackle unauthorized colonies. As part of the broader vision, RERA strengthens its regulatory control with a new office at the divisional level. These proactive measures seek to create a resilient and compliant real estate ecosystem in Rajasthan.Read more

01 Aug 2023

IndoSpace, renowned for its Grade A industrial real estate, has sealed a significant lease agreement with Kerry Indev Logistics Pvt. Ltd. The 3 lakh sq. ft. warehousing space, situated in Sri City, will exclusively support Mitsubishi Electric India's air conditioning operations. Kerry Indev Logistics, a leading 3PL services provider with a global presence, is headquartered in Chennai. The strategic location and world-class infrastructure of Sri City make it an ideal industrial ecosystem. IndoSpace boasts the largest national network of industrial and logistics facilities across India.Read more